Leon Cooperman (Omega Advisors): He pitched going long US stocks and called them the best house in the financial neighborhood, a tune he has been singing for well over a year. However, he did make an excellent point that the maximum "pain trade" is going higher as tons of people are sitting on large sums of cash earning nothing.

Jim Chanos (Kynikos Associates): The noted short-seller was out again negative on tech companies. He mainly pitched the bear case on Hewlett Packard (HPQ), calling it a value trap. We just recently highlighted Chanos' presentation on global value traps where HPQ was highlighted among other names.

He says that "when you lose the paradigm shift, you spend an awful lot of money defending what you have." He compared HPQ to Eastman Kodak as the company is in declining businesses.

Chanos also touched on how instead of giving cash back to shareholders,
companies will make value-destroying acquisitions. He cited HPQ's buy
of Autonomy last year. The Kynikos man argues that HPQ has overspent on acquisitions and they're hiding research & development expenditures through them.

He's also negative on Dell (DELL) saying that the company finances its subprime customers (financing their revenue growth). For more on Chanos we just recently posted up his thoughts on the psychology of short selling.

Andrew Feldstein (BlueMountain Capital): He likes less liquid credit, angling for 8-12% returns over a 3-7 year time horizon. He says you have to be patient as this opportunity is available due to everyone's obsession with liquidity (i.e. don't put your money here if you don't have an appropriate time horizon). He mentioned bonds such as Prospect Medical if you can buy and hold. Feldstein also mentioned he's less excited about legacy distressed assets in Europe.

Kathleen Kelley (Queen Anne's Gate Capital): Formerly of Tudor and Kingdon, she pitched two ideas: short the British pound (against long US dollar) as well as short platinum, targeting 20-30% moves to the downside. She wants to be long the USD against the sterling because the USD can be a commodity currency.

She also likes shorting platinum as there's an oversupply due to slowing Euro auto sales. At the Ira Sohn conference two months ago, Ospraie's Dwight Anderson pitched going short platinum as well (in addition to going long palladium).

Leon Cooperman (Omega Advisors): He pitched going long US stocks and called them the best house in the financial neighborhood, a tune he has been singing for well over a year. However, he did make an excellent point that the maximum "pain trade" is going higher as tons of people are sitting on large sums of cash earning nothing.

Jim Chanos (Kynikos Associates): The noted short-seller was out again negative on tech companies. He mainly pitched the bear case on Hewlett Packard (HPQ), calling it a value trap. We just recently highlighted Chanos' presentation on global value traps where HPQ was highlighted among other names.

He says that "when you lose the paradigm shift, you spend an awful lot of money defending what you have." He compared HPQ to Eastman Kodak as the company is in declining businesses.

Chanos also touched on how instead of giving cash back to shareholders,
companies will make value-destroying acquisitions. He cited HPQ's buy
of Autonomy last year. The Kynikos man argues that HPQ has overspent on acquisitions and they're hiding research & development expenditures through them.

He's also negative on Dell (DELL) saying that the company finances its subprime customers (financing their revenue growth). For more on Chanos we just recently posted up his thoughts on the psychology of short selling.

Andrew Feldstein (BlueMountain Capital): He likes less liquid credit, angling for 8-12% returns over a 3-7 year time horizon. He says you have to be patient as this opportunity is available due to everyone's obsession with liquidity (i.e. don't put your money here if you don't have an appropriate time horizon). He mentioned bonds such as Prospect Medical if you can buy and hold. Feldstein also mentioned he's less excited about legacy distressed assets in Europe.

Kathleen Kelley (Queen Anne's Gate Capital): Formerly of Tudor and Kingdon, she pitched two ideas: short the British pound (against long US dollar) as well as short platinum, targeting 20-30% moves to the downside. She wants to be long the USD against the sterling because the USD can be a commodity currency.

She also likes shorting platinum as there's an oversupply due to slowing Euro auto sales. At the Ira Sohn conference two months ago, Ospraie's Dwight Anderson pitched going short platinum as well (in addition to going long palladium).

Disclaimer

The content provided within this website is property of MarketFolly.com and any views or opinions expressed herein are those solely of MarketFolly.com and do not represent that of any firm or institution. This website is for educational and/or entertainment purposes only. Use this information at your own risk. MarketFolly.com is not an investment advisor of any kind, so do not consider anything on this page to be legal, tax, or investment advice. MarketFolly.com is not responsible for any third party links or content. MarketFolly.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com.